In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Tuesday, August 11, 2009

More Possible Bidders for Guaranty Bank

by Calculated Risk on 8/11/2009 10:32:00 PM

From Bloomberg: Blackstone, U.S. Bancorp, Ford May Bid for Ailing Guaranty Bank

Blackstone Group LP, Gerald Ford’s Flexpoint and U.S. Bancorp are considering bids for assets of Guaranty Financial Group Inc., the Texas lender that said last month it will probably fail, people familiar with the situation said.
Guaranty, whose backers include billionaire Carl Icahn and Omni Hotels owner Robert Rowling, would be the biggest bank to collapse this year and the largest failure since the seizure last September of Washington Mutual Inc.

And on Colonial Bank from The Birmingham News: Alabama State Banking Board meets; can't say if Colonial Bank a topic
A meeting of the Alabama State Banking Board that was to be held Wednesday regarding the future of Montgomery-based Colonial BancGroup has been canceled.

The board met on Monday, said Elizabeth Bressler, general counsel for the Alabama State Banking Department. Under Alabama law, she said she could not comment on what happened at that meeting or whether it involved Colonial.
Guaranty, with over $14 billion in assets, will probably not be the largest bank to fail for very long. Colonial had over $26 billion in assets according to their most recent filing.

Corus only has about $7.6 billion in assets.